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World's largest maker of precision weighing and analytical instruments used in labs, manufacturing and food retail.
World's largest maker of precision weighing and analytical instruments used in labs, manufacturing and food retail.
Sells high-precision scales and analyzers mainly through its own salespeople and service engineers, and earns repeat income from servicing, calibration and consumables on instruments it has installed. Customers in drug and food manufacturing often have to validate the instruments they use, which makes replacing a working one slow.
Moat: wide (installed base, switching costs, brand). Leading precision-instrument brand with a direct global sales/service network that locks in service revenue.
Headquarters: Columbus, Ohio, USA · Founded: 1945 · Employees: 18,100
Size Mettler Toledo (MTD) is a United States Health Care company (Medical Specialties) with a market value of $34.5B, the 329th largest of 3,117 United States companies the cockpit tracks. Shares closed at $1,722 on 6 Nov 2026.
Performance Over six months the shares gained 53.1%, against +27.0% for the median peer and -1.1% for the United States market (cap-weighted) — 3rd highest of 21 in its peer set.
Growth Revenue grew 6.9% over the last twelve months (peer median +8.5%); the operating margin is 28.4% (peer median 20.1%).
Valuation It trades at 33.9× forward earnings against a peer median of 26.6× (5th most expensive of 20).
Price implies For today's price to make sense, revenue must grow about 20% a year for seven years (Req g). Recent delivered growth is +5%, so the hurdle is +15 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 34.4 points above its cost of capital (10.4% WACC).
Short interest Short interest is 3.3% of the free float (15 Oct 2026).
Next results Next results expected around 11 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $4.13B | $4.03B | $3.87B | $3.79B | $3.92B |
| Revenue growth | — | +4% | +2% | -3% | — |
| Gross profit | $2.41B | $2.32B | $2.25B | $2.17B | $2.24B |
| EBITDA | $1.31B | $1.24B | $1.25B | $1.20B | $1.24B |
| Net income | $906M | $869M | $863M | $789M | $873M |
| Free cash flow | $864M | $849M | $864M | $861M | $738M |
| Capital expenditure | $111M | $107M | $104M | $105M | $121M |
| Total debt | $2.11B | $2.27B | $2.13B | $2.20B | $2.13B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Mettler Toledo MTD | $34.5B | +53% | +7% | 28% | 33.9× | 20.3% |
| Thermo Fisher Scientific TMO | $257B | +50% | +8% | 19% | 25.8× | 20.9% |
| Sartorius SRT.DE | $20.0B | +34% | +4% | 18% | 42.6× | 24.9% |
| Danaher DHR | $162B | +35% | +6% | 21% | 25.3× | 20.5% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | MTD | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +12.6% | +10.5% | 10th highest of 21 |
| 6-month return | +53.1% | +27.0% | 3rd highest of 21 |
| Distance from 52-week high | -4.7% | -8.5% | 5th highest of 21 |
| Revenue growth (TTM) | +6.9% | +8.5% | 10th lowest of 21 |
| Operating margin | 28.4% | 20.1% | 4th highest of 21 |
| Forward P/E | 33.9× | 26.6× | 5th most expensive of 20 |
| Growth the price implies (Req g, 7 yrs) | 20.3% | 13.7% | 7th most demanding of 20 |
| Growth delivered (Del g) | +5.5% | +9.7% | 3rd lowest of 20 |
| Hurdle (Req g minus delivered) | +14.8 pp | +2.4 pp | 7th most demanding of 20 |
| ROIC minus cost of capital | +34.4 pp | +4.1 pp | highest of 21 |
| EV / EBITDA | 28.0× | 19.0× | 4th most expensive of 19 |
| Net debt / EBITDA | 1.6× | 1.0× | 8th most indebted of 19 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Mettler Toledo MTD | United States | $34.5B | +53% | +7% | 28% | 33.9× | 20.3% | +5.5% |
| Shenzhen Mindray Bio-Medical Electronics 300760.SZ | China | $33.4B | +9% | +5% | 28% | 27.1× | 0.9% | +9.7% |
| ResMed RMD | United States | $33.1B | +14% | +9% | 34% | 19.1× | 4.9% | +12.1% |
| Illumina ILMN | United States | $32.2B | +50% | +6% | 21% | 35.7× | 27.1% | +6.0% |
| GE HealthCare GEHC | United States | $37.2B | +30% | +7% | 14% | 15.4× | 4.3% | +3.7% |
| Alcon ALC.SW | Switzerland | $37.5B | +22% | -1% | 11% | 21.4× | 12.9% | +6.1% |
| Dexcom DXCM | United States | $29.6B | +31% | +13% | 24% | 27.0× | 18.5% | +19.3% |
| West Pharmaceutical Services WST | United States | $27.9B | +23% | +13% | 23% | 39.8× | 25.2% | +7.5% |
| Waters WAT | United States | $45.0B | +29% | +81% | 10% | 28.6× | 46.2% | +6.0% |
| Hoya 7741.T | Japan | $47.4B | -23% | +13% | 31% | 26.7× | 13.3% | +11.6% |
| Sartorius Stedim Biotech DIM.PA | France | $24.7B | +38% | +4% | 19% | 45.5× | 33.1% | +9.2% |
| Steris STE | United States | $24.6B | +22% | +8% | 20% | 21.4× | 13.7% | +13.8% |
| Agilent Technologies A | United States | $49.3B | +51% | +9% | 24% | 26.6× | 22.6% | +5.4% |
| Terumo 4543.T | Japan | $23.4B | +25% | +14% | 17% | 24.6× | 8.7% | +13.0% |
| Medline MDLN | United States | $52.1B | 0% | +12% | 6% | 26.1× | 17.1% | +9.9% |
| Idexx Laboratories IDXX | United States | $53.3B | +21% | +12% | 32% | 41.5× | 28.0% | +9.7% |
| Siemens Healthineers SHL.DE | Germany | $55.9B | +31% | -1% | 15% | 18.9× | 9.0% | +10.1% |
| Becton Dickinson BDX | United States | $57.7B | +43% | -3% | 15% | 16.0× | 9.6% | +6.3% |
| Straumann STMN.SW | Switzerland | $20.4B | +25% | +2% | 21% | 31.9× | 15.2% | +12.8% |
| Sonova SOON.SW | Switzerland | $20.3B | +62% | -7% | 21% | 25.6× | 7.1% | +6.7% |
| Guardant Health GH | United States | $20.2B | +58% | +43% | -40% | n/a | n/a | n/a |